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Mere inadequate inquiry by AO doesn’t justify revision under Section 263
Case Law Details
- Case Name
- PCIT 2 Vs Clix Finance India Pvt Ltd (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2002-03
- Courts
- All High Courts, Delhi High Court
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PCIT 2 Vs Clix Finance India Pvt Ltd (Delhi High Court)
Introduction: In a landmark decision that reinforces the principles of fair assessment and judicious application of revisionary powers under the Income Tax Act, the Delhi High Court has delivered a verdict in the case of PCIT 2 Vs Clix Finance India Pvt Ltd. This ruling is a significant step towards clarifying the circumstances under which the Commissioner of Income Tax (CIT) can invoke revisionary powers under Section 263 of the Income Tax Act, 1961.
Detailed Analysis: The crux of the case involved the CIT’s invoca...
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